A 1.2 Million Units Global Opportunity for Digital Cameras by 2026 - New Research from StrategyR

SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Digital Cameras - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 17; Released: February 2022
Executive Pool: 4962
Companies: 21 - Players covered include Canon Inc.; Eastman Kodak Company; Fujifilm Holdings Corporation; Koninklijke Philips N.V; Nikon Corporation; Olympus Corporation; Panasonic Corporation; Samsung Group; Sony Corporation; The Ricoh Company, Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Lens Type (Built-in, Interchangeable)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Digital Cameras Market to Shrink to 1.2 Million Units by 2026
Digital cameras (digicams) are specialized cameras that capture photos in a memory card digitally. While most cameras made these days are in digital format, a vast numbers of cameras are embedded into mobile phones and portable touch computers, which in addition to various uses can be utilized for Voice Over Internet Protocol (VoIP) for video-telephony and are capable to edit and upload photos to other mobile devices. Digital cameras are available in several categories of sizes, capabilities and prices. These range from basic digital cameras to niche cameras that include multispectral imaging cameras and astrographs used for spectral, scientific, medical, and military uses, among other purposes. Single lens reflex (SLR) cameras, a segment of the digital cameras market, is witnessing growth due to the better quality of photographs achieved through the devices. Digital SLRs market offers vast growth opportunities due to digitization, easy usage, falling prices, and robust demand in emerging markets. With digital SLR sales driving sales in the camera market, the demand for dedicated accessories such as interchangeable lenses is also rising.

Amid the COVID-19 crisis, the global market for Digital Cameras estimated at 5 Million Units in the year 2022, is projected to shrink to 1.2 Million Units by the year 2026, displaying negative CAGR of -28.7% over the analysis period. Built-in cameras, one of the segments analyzed in the report, is projected to record -32.6% CAGR and shrink to 226.5 Thousand Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Interchangeable cameras segment is readjusted to a revised -26.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at 851 Thousand Units in 2022, While China is Forecast to Dwindle to 218.7 Thousand Units by 2026
The Digital Cameras market in the U.S. is estimated at 851 Thousand Units in the year 2022. China, the world`s second largest economy, is forecast to witness erosion in sales to 218.7 Thousand Units by the year 2026 trailing a negative CAGR of -26.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at -31.4% and -28.3% respectively over the analysis period. Within Europe, Germany is forecast to decline at approximately -30.4% CAGR. Developed regions of the world exhibit saturating conditions, with household penetration of digital cameras reaching 90% in the US. Similar conditions prevail in Japan and Western Europe, limiting growth opportunities for digital camera sales in these markets. Faced with mature conditions, manufacturers are focused on enhancing sales among repeat purchasers, and target late adopters of digital cameras. Replacement markets, developing brand image in lucrative markets, effective management of mature markets and exploring associated opportunities would be the key survival factors for companies in the next few years.

Built-in (Lens Type) Segment to Further Shrink to 379.6 Thousand Units by 2026
Global market for Built-in Camera segment is estimated at 2 Million Units in 2022, and is projected to shrink to 379.6 Thousand Units by 2026 reflecting a negative CAGR of -32.6% over the analysis period. Europe constitutes the largest regional market for the Built-in Camera segment, accounting for 31.6% of the global sales. Africa is poised to register a decline of -26.1% over the analysis period, to shrink to 7 Thousand Units by 2026.
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.